An Employment Contract is a legal agreement signed between an employer and an employee (or a company and an individual) in which the employer is bound to provide the employee with work and pay them an agreed salary, while the employee is legally bound to work for the employer on the terms stated in the contract. The purpose of the document is to describe all of the terms and conditions that regulate the relationship between the employer and the employee that they have agreed on.
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A Contract for Employment is a very complex document that regulates the majority of questions connected with employment. It determines in detail how the employee will be paid, their working hours, what their main responsibilities will be, what kind of benefits they are entitled to, etc. It can be used for any type of employee, however, it can be modified depending on the specifics of the situation. For example, for contractor employment, the employer should include the terms regulating the work time for the contractors and their specific fees. Additionally, Contractor Agreements usually do not include any benefits or paid leave.
A Temporary Employment Contract is a related legal document signed between an employer and an employee (or a company and an individual) in which the parties have decided that the employee is engaged in work only for a specific period of time.
One of the main purposes of the contract is to detail what kind of benefits the employee is entitled to. The benefits can cover different areas of the employee's life and depend on the company that provides them, and the level of the employee, however, most of them include salary, vacation time, health insurance, unemployment benefits, etc.
However, having an Employment Agreement can be important for other reasons as well. With it, the parties receive a list of advantages such as:
The Employment Contract format can contain several main parts, which include the following:
Parties can include other sections in the agreement, such as severability, contact information, jurisdiction, contract termination, governing law, a non-disclosure clause, a non-compete clause, information about representatives, definitions, etc.
The contents of the contract also depend on the position of the employee. For example, if an employee holds the position of Company President, their executive Employment Contract will be slightly different from a regular Labor Contract. Usually, an average executive Employment Contract entitles more responsibilities to the employee but compensates it with more employment benefits as well.
Even though the Employment Contract is developed for all of the employees (with some minor differences due to the position level), there are always things that can be negotiated. If an individual is offered employment in a company, here is the list of major things they should pay attention to:
If the individual feels uncertain and seeks help for the negotiation, they should schedule a meeting with a local lawyer. While looking for one they should focus on finding a professional labor specialist with comprehensive knowledge on the subject.
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